Cryptocurrency news

CoinSwitch_co

Contributor
CoinSwitch Airdrop Tracker

CoinSwitch AirDrop Tracker
AirDrops are everywhere. Over the last few months, it’s popularity has grown immensely and why not? After all, who doesn’t like free stuff?
Airdrop refers to the free distribution of small amounts of a certain virtual currency token to its community members either for free or for performing small tasks. — Investopedia
We, at CoinSwitch, have built an AirDrop tracker platform. It keeps track of all the ongoing AirDrops and highlights key information like coin description, AirDrop date, and giveaway worth. It also lists the step that needs to be taken to be eligible to receive the AirDrop. We will soon include functionalities where users can track, rate and report the Airdrops and hold a community discussion.

CoinSwitch AirDrop Tracker
This is a free tool built under our community initiatives. We intend to let our community operate it with minimal moderation from our end.
Disclaimer: CoinSwitch Airdrop Tracker is a free service for the cryptocurrency community which cannot be held responsible for errors or any consequences arising from the use of information presented here.
About CoinSwitch:
CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator. It provides exchange service of 300+ coins and over 45,000+ pairs from leading exchanges like KuCoin, Bittrex, Cryptopia, ShapeShift, Changelly, and Changer. It provides an easy way for users to trade coins across multiple exchanges based on price and reliability.
Please do write us to support@coinswitch.co if you have any queries.
Join our telegram group to stay updated on new coin additions and other updates
Happy Switching :)
 

CoinSwitch_co

Contributor
How to buy ParetoNetwork Token in 4 simple steps
CoinSwitch is the first cryptocurrency and altcoin exchange aggregator. We have integrated many leading exchanges across the globe to provide best exchange rates to our customers. Currently, we support over 275 cryptocurrencies and more than 45000 pairs to exchange. Here is the list of all coins which we support:
We are now supporting ParetoNetwork(PARETO) on CoinSwitch platform for purchasing!
Here is the step by step guide for beginners on how to buy ParetoNetwork(PARETO):
Select BTC on the left and PARETO on the right, enter the amount of PARETO you want to exchange. This will show the quantity of PARETO at the current exchange rate. Now you have to click ‘View All Offers’ button.(The amount displayed here may differ with the actual amount which you will receive after the conversion.)

Here you will see the list of all exchanges with ParetoNetwork(PARETO) quantity they are offering. Choose the best exchange to convert Bitcoin (BTC) to ParetoNetwork(PARETO) or choose the one recommended by us.
Provide your ParetoNetwork(PARETO) wallet address. You will receive your PARETO in that wallet after the order completes. Please double check the address and read the terms before hitting Next button.
Here it will show the Bitcoin (BTC) address of the exchange. Now you have to send BTC from your wallet to that address.
Once the exchange will receive your BTC then it will initiate the ParetoNetwork(PARETO) conversion. You can always track your transaction on the blockchain with our easy to access links, below is your transactions status.
Here you go! The transaction is completed, and now you can check your ParetoNetwork(PARETO) wallet. Note that although the transaction is finished, in some cases your wallet needs some additional confirmations to display the received funds. All you should do is to just wait until your coins are displayed.
It’s Simple and easy. As always!
Happy switching :)
 

CoinSwitch_co

Contributor
Venezuela: A Collapsing Economy’s Tryst With Crypto
Venezuela, a federal republic on the northern coast of South America is all in crypto news from a last couple of months just after launching its oil-backed cryptocurrency — Petro (PTR). The country is hoping that the new crypto coin will help it evade U.S. budgetary sanctions and save Venezuela from crisis restore the doomed economy.

The Venezuela Crisis
Venezuela holds the world’s biggest supply of unrefined petroleum. It was a powerhouse of South America in the 1990s. It was a going fine until a little exclusive class started controlling everything and there was nothing for impoverished masses.
The nation moved in the direction of communism in 1999 and chose Hugo Chavez as president. He championed populism, cut ties with the United States and cozied up to China and Russia, both of which credited Venezuela billions. Chavez ruled until his demise in 2013, is still considered today to be a godman for poor people.
Chavez utilized oil money to fund many of his infrastructure and housing projects, which saw vast improvements in the quality of life for some of the poorest Venezuelans, according to Gregory Wilpert, a sociologist and author of “Changing Venezuela by Taking Power: The History and Policies of the Chávez Government.”
It helped Venezuela in significantly declining inequality and poverty. The problem was that this relied precisely on the oil wealth and at the time, it was assumed that the price of oil would continue going up. That was a wrong assumption.

Before he passed on, Chavez picked Nicolas Maduro to succeed him, and Maduro kept up the administration’s practices. According to Wilpert — The new govt made mistakes in terms of economic management, mainly by subsidizing food products so massively, which was a legacy of the Chavez government.
The subsidies kept getting bigger and bigger. So it became much more profitable to smuggle these products out of the country. That’s one of the reasons it created so much scarcity. So the actual policy of supporting and redistributing wealth is actually working against many of the people it is supposed to benefit.
His administration also stopped publishing any reliable statistics, including on economic growth and inflation. It accepted millions in bribes for construction projects and racked up debts that it is still struggling to pay.
The Current State Of Venezuela
The local Venezuela currency Bolivars getting depreciated rapidly because of a black market. One American dollar was worth about eight Bolivars in 2010 which is around 69,900 Bolivars today.
The International Monetary Fund estimates that inflation will reach 2,068.5 percent by 2018.

The black market still has a powerful influence on food prices causing severe food shortages. This reflects in the long queue of people inside and outside supermarkets and the attempts to cross the border with Colombia to buy basic goods.
The financial emergency is hitting Venezuela’s general healthcare sector the hardest. In the public hospitals, medication is generally not available.
Around 75 percent of Venezuelans are suffering from weight loss and unemployment.
Crime and violence are also widespread. According to the independent group, the Venezuelan Violence Observatory 27,479 people were killed in 2016.
Govt cash is decreasing day by day.

Venezuela running out of cash because of crisis
Here Comes Petro — The Savior
In the mid of February 2018, the govt of Venezuela has launched its first state-backed cryptocurrency (ERC-20 token) — Petro (PTR). President Maduro said that the govt has received $735 million in the first day of a pre-sale of the cryptocurrency.
Petro will be a sovereign crypto asset and each Petro token will be backed by one barrel of Venezuelan oil and will be sold at the same price. Total about 100 million Petro tokens would be issues of worth around $6 billion, said the govt.

Petro will have three major use cases:
MEANS OF EXCHANGE: It may be used to purchase goods or services and will be redeemable for fiat money and other crypto assets or cryptocurrencies through digital exchange houses
DIGITAL PLATFORM: It can perform the functions of the digital representation of goods and/or raw materials (e-commodity) and the creation of other digital instruments for national and international trade
SAVINGS AND INVESTMENT FACILITY: Petro will be available for free exchange in electronic exchange houses (exchanges) around the world and will have the necessary characteristics to carry out direct exchanges (Atomic Swaps) in a safe manner and in accordance with the Venezuelan legal framework.
Venezuela as a country is in a state which is doing anything to save its economy. Launching the Petro token is the idea from the same like. They want to make Petro as an instrument for Venezuela’s economic stability and financial independence. At the initial level, it has received a lot of criticism from the economist because of trust and transparency issues with Venezuela in the past. It will interesting to see how it continues.
About CoinSwitch:
CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator. It provides exchange service of 300+ coins and over 45,000+ pairs from leading exchanges like KuCoin, Bittrex, Cryptopia, ShapeShift, Changelly, and Changer. It provides an easy way for users to trade coins across multiple exchanges based on price and reliability.
Please do write us to support@coinswitch.co if you have any queries.
Join our telegram group to stay updated on new coin additions and other updates
Happy Switching :)
 

CoinSwitch_co

Contributor
Venezuela: A Collapsing Economy’s Tryst With Crypto
Venezuela, a federal republic on the northern coast of South America is all in crypto news from a last couple of months just after launching its oil-backed cryptocurrency — Petro (PTR). The country is hoping that the new crypto coin will help it evade U.S. budgetary sanctions and save Venezuela from crisis restore the doomed economy.

The Venezuela Crisis
Venezuela holds the world’s biggest supply of unrefined petroleum. It was a powerhouse of South America in the 1990s. It was a going fine until a little exclusive class started controlling everything and there was nothing for impoverished masses.
The nation moved in the direction of communism in 1999 and chose Hugo Chavez as president. He championed populism, cut ties with the United States and cozied up to China and Russia, both of which credited Venezuela billions. Chavez ruled until his demise in 2013, is still considered today to be a godman for poor people.
Chavez utilized oil money to fund many of his infrastructure and housing projects, which saw vast improvements in the quality of life for some of the poorest Venezuelans, according to Gregory Wilpert, a sociologist and author of “Changing Venezuela by Taking Power: The History and Policies of the Chávez Government.”
It helped Venezuela in significantly declining inequality and poverty. The problem was that this relied precisely on the oil wealth and at the time, it was assumed that the price of oil would continue going up. That was a wrong assumption.

Before he passed on, Chavez picked Nicolas Maduro to succeed him, and Maduro kept up the administration’s practices. According to Wilpert — The new govt made mistakes in terms of economic management, mainly by subsidizing food products so massively, which was a legacy of the Chavez government.
The subsidies kept getting bigger and bigger. So it became much more profitable to smuggle these products out of the country. That’s one of the reasons it created so much scarcity. So the actual policy of supporting and redistributing wealth is actually working against many of the people it is supposed to benefit.
His administration also stopped publishing any reliable statistics, including on economic growth and inflation. It accepted millions in bribes for construction projects and racked up debts that it is still struggling to pay.
The Current State Of Venezuela
The local Venezuela currency Bolivars getting depreciated rapidly because of a black market. One American dollar was worth about eight Bolivars in 2010 which is around 69,900 Bolivars today.
The International Monetary Fund estimates that inflation will reach 2,068.5 percent by 2018.

The black market still has a powerful influence on food prices causing severe food shortages. This reflects in the long queue of people inside and outside supermarkets and the attempts to cross the border with Colombia to buy basic goods.
The financial emergency is hitting Venezuela’s general healthcare sector the hardest. In the public hospitals, medication is generally not available.
Around 75 percent of Venezuelans are suffering from weight loss and unemployment.
Crime and violence are also widespread. According to the independent group, the Venezuelan Violence Observatory 27,479 people were killed in 2016.
Govt cash is decreasing day by day.

Venezuela running out of cash because of crisis
Here Comes Petro — The Savior
In the mid of February 2018, the govt of Venezuela has launched its first state-backed cryptocurrency (ERC-20 token) — Petro (PTR). President Maduro said that the govt has received $735 million in the first day of a pre-sale of the cryptocurrency.
Petro will be a sovereign crypto asset and each Petro token will be backed by one barrel of Venezuelan oil and will be sold at the same price. Total about 100 million Petro tokens would be issues of worth around $6 billion, said the govt.

Petro will have three major use cases:
MEANS OF EXCHANGE: It may be used to purchase goods or services and will be redeemable for fiat money and other crypto assets or cryptocurrencies through digital exchange houses
DIGITAL PLATFORM: It can perform the functions of the digital representation of goods and/or raw materials (e-commodity) and the creation of other digital instruments for national and international trade
SAVINGS AND INVESTMENT FACILITY: Petro will be available for free exchange in electronic exchange houses (exchanges) around the world and will have the necessary characteristics to carry out direct exchanges (Atomic Swaps) in a safe manner and in accordance with the Venezuelan legal framework.
Venezuela as a country is in a state which is doing anything to save its economy. Launching the Petro token is the idea from the same like. They want to make Petro as an instrument for Venezuela’s economic stability and financial independence. At the initial level, it has received a lot of criticism from the economist because of trust and transparency issues with Venezuela in the past. It will interesting to see how it continues.
About CoinSwitch:
CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator. It provides exchange service of 300+ coins and over 45,000+ pairs from leading exchanges like KuCoin, Bittrex, Cryptopia, ShapeShift, Changelly, and Changer. It provides an easy way for users to trade coins across multiple exchanges based on price and reliability.
Please do write us to support@coinswitch.co if you have any queries.
Join our telegram group to stay updated on new coin additions and other updates
Happy Switching :)
 

BitFit

Contributor
Venezuela: A Collapsing Economy’s Tryst With Crypto
The Current State Of Venezuela
The local Venezuela currency Bolivars getting depreciated rapidly because of a black market. One American dollar was worth about eight Bolivars in 2010 which is around 69,900 Bolivars today.
The International Monetary Fund estimates that inflation will reach 2,068.5 percent by 2018.

The black market still has a powerful influence on food prices causing severe food shortages. This reflects in the long queue of people inside and outside supermarkets and the attempts to cross the border with Colombia to buy basic goods.
The financial emergency is hitting Venezuela’s general healthcare sector the hardest. In the public hospitals, medication is generally not available.
Around 75 percent of Venezuelans are suffering from weight loss and unemployment.
Crime and violence are also widespread. According to the independent group, the Venezuelan Violence Observatory 27,479 people were killed in 2016.
Govt cash is decreasing day by day.

Wow! I have read about bitcoin being used by Venezuelans because of rampant inflation but had no idea things were that bad. Oil prices are probably a long way from recovery too.
 

CoinSwitch_co

Contributor
Mount Gox Saga And Its Effect On Bitcoin Price In 2018
Mount Gox, established in 2010 and was one of the best Bitcoin exchange is currently influencing the Bitcoin prices from time to time.

The Mount Gox Exchange

Mount Gox (Mt. Gox) was one of the worlds first Bitcoin exchange based in Tokyo, Japan. The exchange operated between 2010 to 2014. It was handling over 70 to 80% of the online Bitcoin(BTC) transactions worldwide. Handling of such a significant number of transactions gave Mt. Gox an outsized part in deciding the fate of Bitcoin. In 2013, for instance, it suspended trading for a few days just to cool down the market.
Mt. Gox Hack Explained
In February 2014 customer complaints about long delays in withdrawals were increasing and there were more than 3,300 posts in a thread about the topic on the Bitcoin Talk online forum. Immediately after that Mt. Gox stopped all Bitcoin withdrawals in the wake of claiming to have found suspicious movement in its digital wallets. The hack was supposedly possible due to company’s negligence and inexperience towards security measures.
The news of the suspension brought about the cost of Bitcoin diving by 20%. The organisation found that it had “lost” in excess of 850,000 bitcoins, which, at the time, spoke to more than 7% of all the bitcoins available for use.
While it later they found 200,000 Bitcoins, but still the missing 650,000 Bitcoins had a potential to destabilise whole Bitcoin market. The estimation of the Bitcoins was evaluated at over $450 million, with the loss pushing Mt. Gox into bankruptcy. It petitioned for chapter 11 in the Tokyo District Court and was ordered to liquidate in April 2014.
A Japan-based attorney, Nobuaki Kobayashi was appointed as the trustee for the case and given the control of all Mt. Gox BTC wallets. Kobayashi has been tasked with liquidating the coins on behalf of Mt. Gox creditors. Most of whom have not recovered their funds after the exchange closed its trading operations in 2014.
Mt. Gox Trustee Nobuaki Kobayashi (Image source: Noandt.com)
Mt. Gox Trustee Mr. Kobayashi is legally allowed to sell-off the 200,000 Mt. Gox Bitcoins to cover the claims of creditors but his action of liquidating in large quantities of Bitcoin on public exchanges gets criticism.
Several times it has impacted the Bitcoin price due to the increase in liquidity in the market.

Kobayashi revealed in March that he had sold about $400 million of MtGox Bitcoin and Bitcoin Cash in September of 2017.
Notably, a transfer of funds on February 5, 2018, which can be concluded with a 50 percent decline in market value from January’s all-time high market cap of $830 billion.
Image source: cointelegraph.com
On 15th May 2018, the transactions from Mt.Gox cold wallet occurred in the early hours of the morning in Europe and 11 PM EST in the US. The transaction from Mt. Gox Wallet can be seen here on Blockchain Info. The amount of this transaction is calculated to be 8,214.97084 BTC, which is worth around $76.7 Million at the time of the transaction. The BTC market is concluded to have reacted towards this move and has reached to 8200$.
The market has reacted most of the time on the sell of Mt. Gox Bitcoins and it has fallen down because of panic sell. Being vigilant and wait for the market to recover is the key during the storm of sudden sell-off.
 

CoinSwitch_co

Contributor
Cryptocurrencies As Digital Cash: A New Era Of Payment System

As the word portrays, this is electronic cash, currency or money which can be stored on a smart card or in a mobile wallet. Digital cash is a system where one can make payment electronically involving the bank/financial institution directly for the transaction to take place. It is clear that this is a century where technology has become the pillar of advancement in all activities conducted. Many people have drowned into this technology which is much preferred nowadays since it is much quicker and safe. One can also define digital cash as a system used to purchase cash credits and then storing them into the computer where one can use it to do e-purchasing through the internet.
How Digital Cash Works
Just like any other currency, this is a legal currency which is backed by banks and the government. Not many people have an idea of how it works. This has been the trend of making payment after a purchase especially if it is a transaction that involves different countries, for example, online shopping or online payment for a service.
A simple illustration will help you understand how digital cash can be used. For example, “A” is the user who obtains this digital cash from his bank and wants to make a payment using the digital cash to complete a transaction to user “B” who is a merchant. “B” will receive the electronic cash and makes sure that it has been verified by the financial institution.

The existing digital cash system (cs[dot] bham[dot] ac[dot]uk)
What Benefits Does Digital Cash Have?
#1 The system is secure
This is a secure system that uses serial numbers to avoid any duplications. There is always a central system which verifies each and every transaction happening through it.
#2 Simple to use
This digital cash is simple to use when it comes to both receiving and spending perspective. Due to its simplicity, users have increased in number and everyone is running into this technology. You do not have to hold a degree in cryptography for you to be a user. Simplicity is the key to creating acceptability for the public.
#3 Offers two-ways services
With digital cash, it is possible for the peer to peer transaction to happen without either of the party requiring a registration merchant status. It has made it possible for a transaction between parties to be easy and fast.
#4 Has facilitated payments
A person from a different country can be able to purchase goods or service and make the payment within a few minutes using digital cash. Are you in the restaurant and as a group have planned to share to cost? This is an easy task, one can make the whole payment using the digital cash and the rest send their share to this one person who has paid the whole bill.
Cryptocurrencies As Digital Cash
As the white paper of very first cryptocurrency Bitcoin says- It is a purely peer-to-peer version of electronic cash that would allow online payments to be sent directly from one party to another without going through a financial institution. Even though the existing digital transactions are secure, but it relies on financial institutions to serve as a trusted third party for processing. The system works well for most transactions but it still depends on the trust based model. Completely non-reversible transactions are not really possible with this model.
So here comes the cryptocurrencies where the payment is based on cryptographic proof instead of trust, allowing any two parties to transact directly with each other without the need for a trusted third party. Transactions that are computationally non-reversible in this case.
So digital cash is a general, inclusive term for all types of immaterial monies, while cryptocurrencies are a particular sort of digital cash which has special features for decentralization and trustlessness.

Following are some of the examples that can be considered as digital cash in crypto-world. These cryptocurrencies can easily replace existing digital cash:
Bitcoin
Ethereum
Ripple
Litecoin
These are just a few cryptos which are mostly popular, there are others but as for now the above are the one with a larger share in the market. Bitcoin and Ethereum are the strongest cryptocurrencies that face up and downs but still emerge to be the best in the market.
Bitcoin
Bitcoin (BTC) is the first cryptocurrency ever created and got a widespread adoption over the years. Bitcoin is generally traded against FIAT, as the years progressed Bitcoin is also used as a transaction of value. The total supply of Bitcoins is set to 21 million units that can be cryptographically mined over a period of time.
Ethereum
Ethereum (ETH) is the second most popular crypto-asset after Bitcoin. While Bitcoin is created to be a store of value, Ethereum was created to be the ‘World Computer’. Ethereum provides a platform run by something called ‘smart contracts’ which allows others to build protocols and applications on the Ethereum platform. These protocols and apps can provide different functionalities based on the services they provide, opening to a wide range of different sets of crypto assets.

Ripple
Ripple (XRP) is the most controversial of all the crypto-assets. Let’s break down ripple into two categories: Ripple Protocol and XRP (Ripple Crypto currency). Ripple raised in popularity when its protocol challenged the way the entire banking system works. The current system, SWIFT, which the banks use is time consuming and a very inefficient way of information transfer between two banks. Ripple’s protocol can be used to provide lightning fast transactions between different banks in two different continents. One of the reason why Ripple is most controversial is because of the centralization over its network. While most of the crypto assets are decentralized, over 70% of XRP’s reserves are held by its founders and they dictate how to develop and use Ripple. Also XRP is not strictly required to be used in Ripple’s protocol creating more negativity around its value over time.
Litecoin
Litecoin is another peer-to-peer cryptocurrency that is similar to Bitcoin. As more and more people started embracing Bitcoin, there came a time where people thought Bitcoin won’t be scalable in long term due to its mean block time of 10 minutes. As more and more transactions happen in BTC, the more time it takes to confirm the transaction resulting in higher transaction fees and a blockade of unverified transactions in memepool. Hence Litecoin was born hard-forking the Bitcoin network making some slighter modifications to its protocol in order to accommodate for less mean mining time resulting in more transactions without clogging the network. The mean block time for Lite coin is 2.5 minutes and the total supply is capped to 81 million.
Apart from these top cryptos there a few more cryptocurrencies which can be used a digital cash for payment: Dash, Monero, DigiByte, ReddCoin, Bitcoin Cash, Bitcoin Gold, Vertcoin etc.
Major Differences Between Digital Cash And Cryptocurrencies
The verification of Bitcoin or other cryptocurrencies transaction uses a private key to make payment where each and every person who possesses ownership has a private key; this is how the Bitcoin is decrypted. On the other side, digital cash uses a public key to decrypt the note provided by the bank.
Cryptocurrencies use blockchain where verified transactions are stored; in this case, the financial institutions are not involved in verifying the transaction. Current digital cash is verified through the note that contains a unique serial number that the financial institution provides the user with each note used in any transaction contains a new serial number that helps the bank in the verification process.
Bottomline
As discussed above it shows that digital cash has a big difference when it comes to the techniques used in its operation compared to cryptocurrencies. Theft or fraud in cryptocurrencies is very rare since the process is secure and very safe for the transaction. But the cryptocurrencies have a basic problem for scalability. Bitcoin blockchain can process only almost 5 to 7 transactions per second while current digital payment system like VISA cards can process up to 2000 transactions in a second. Many developments are going on to solve the scalability issues for the Cryptocurrencies. If this happens then cryptocurrencies have a great future ahead as a payment medium.
In the next article of this series, we will discuss about Privacy Coins.
CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator. It provides exchange service of 300+ coins and over 45,000+ pairs from leading exchanges like KuCoin, Bittrex, Cryptopia, ShapeShift, Changelly, and Changer. It provides an easy way for users to trade coins across multiple exchanges based on price and reliability.
Please do write us to support@coinswitch.co if you have any queries.
Join our telegram group to stay updated on new coin additions and other updates
Happy Switching :)
 

BitFit

Contributor
Cryptocurrencies As Digital Cash: A New Era Of Payment System

As the word portrays, this is electronic cash, currency or money which can be stored on a smart card or in a mobile wallet. Digital cash is a system where one can make payment electronically involving the bank/financial institution directly for the transaction to take place. It is clear that this is a century where technology has become the pillar of advancement in all activities conducted. Many people have drowned into this technology which is much preferred nowadays since it is much quicker and safe. One can also define digital cash as a system used to purchase cash credits and then storing them into the computer where one can use it to do e-purchasing through the internet.
How Digital Cash Works
Just like any other currency, this is a legal currency which is backed by banks and the government. Not many people have an idea of how it works. This has been the trend of making payment after a purchase especially if it is a transaction that involves different countries, for example, online shopping or online payment for a service.
A simple illustration will help you understand how digital cash can be used. For example, “A” is the user who obtains this digital cash from his bank and wants to make a payment using the digital cash to complete a transaction to user “B” who is a merchant. “B” will receive the electronic cash and makes sure that it has been verified by the financial institution.

The existing digital cash system (cs[dot] bham[dot] ac[dot]uk)
What Benefits Does Digital Cash Have?
#1 The system is secure
This is a secure system that uses serial numbers to avoid any duplications. There is always a central system which verifies each and every transaction happening through it.
#2 Simple to use
This digital cash is simple to use when it comes to both receiving and spending perspective. Due to its simplicity, users have increased in number and everyone is running into this technology. You do not have to hold a degree in cryptography for you to be a user. Simplicity is the key to creating acceptability for the public.
#3 Offers two-ways services
With digital cash, it is possible for the peer to peer transaction to happen without either of the party requiring a registration merchant status. It has made it possible for a transaction between parties to be easy and fast.
#4 Has facilitated payments
A person from a different country can be able to purchase goods or service and make the payment within a few minutes using digital cash. Are you in the restaurant and as a group have planned to share to cost? This is an easy task, one can make the whole payment using the digital cash and the rest send their share to this one person who has paid the whole bill.
Cryptocurrencies As Digital Cash
As the white paper of very first cryptocurrency Bitcoin says- It is a purely peer-to-peer version of electronic cash that would allow online payments to be sent directly from one party to another without going through a financial institution. Even though the existing digital transactions are secure, but it relies on financial institutions to serve as a trusted third party for processing. The system works well for most transactions but it still depends on the trust based model. Completely non-reversible transactions are not really possible with this model.
So here comes the cryptocurrencies where the payment is based on cryptographic proof instead of trust, allowing any two parties to transact directly with each other without the need for a trusted third party. Transactions that are computationally non-reversible in this case.
So digital cash is a general, inclusive term for all types of immaterial monies, while cryptocurrencies are a particular sort of digital cash which has special features for decentralization and trustlessness.

Following are some of the examples that can be considered as digital cash in crypto-world. These cryptocurrencies can easily replace existing digital cash:
Bitcoin
Ethereum
Ripple
Litecoin
These are just a few cryptos which are mostly popular, there are others but as for now the above are the one with a larger share in the market. Bitcoin and Ethereum are the strongest cryptocurrencies that face up and downs but still emerge to be the best in the market.
Bitcoin
Bitcoin (BTC) is the first cryptocurrency ever created and got a widespread adoption over the years. Bitcoin is generally traded against FIAT, as the years progressed Bitcoin is also used as a transaction of value. The total supply of Bitcoins is set to 21 million units that can be cryptographically mined over a period of time.
Ethereum
Ethereum (ETH) is the second most popular crypto-asset after Bitcoin. While Bitcoin is created to be a store of value, Ethereum was created to be the ‘World Computer’. Ethereum provides a platform run by something called ‘smart contracts’ which allows others to build protocols and applications on the Ethereum platform. These protocols and apps can provide different functionalities based on the services they provide, opening to a wide range of different sets of crypto assets.

Ripple
Ripple (XRP) is the most controversial of all the crypto-assets. Let’s break down ripple into two categories: Ripple Protocol and XRP (Ripple Crypto currency). Ripple raised in popularity when its protocol challenged the way the entire banking system works. The current system, SWIFT, which the banks use is time consuming and a very inefficient way of information transfer between two banks. Ripple’s protocol can be used to provide lightning fast transactions between different banks in two different continents. One of the reason why Ripple is most controversial is because of the centralization over its network. While most of the crypto assets are decentralized, over 70% of XRP’s reserves are held by its founders and they dictate how to develop and use Ripple. Also XRP is not strictly required to be used in Ripple’s protocol creating more negativity around its value over time.
Litecoin
Litecoin is another peer-to-peer cryptocurrency that is similar to Bitcoin. As more and more people started embracing Bitcoin, there came a time where people thought Bitcoin won’t be scalable in long term due to its mean block time of 10 minutes. As more and more transactions happen in BTC, the more time it takes to confirm the transaction resulting in higher transaction fees and a blockade of unverified transactions in memepool. Hence Litecoin was born hard-forking the Bitcoin network making some slighter modifications to its protocol in order to accommodate for less mean mining time resulting in more transactions without clogging the network. The mean block time for Lite coin is 2.5 minutes and the total supply is capped to 81 million.
Apart from these top cryptos there a few more cryptocurrencies which can be used a digital cash for payment: Dash, Monero, DigiByte, ReddCoin, Bitcoin Cash, Bitcoin Gold, Vertcoin etc.
Major Differences Between Digital Cash And Cryptocurrencies
The verification of Bitcoin or other cryptocurrencies transaction uses a private key to make payment where each and every person who possesses ownership has a private key; this is how the Bitcoin is decrypted. On the other side, digital cash uses a public key to decrypt the note provided by the bank.
Cryptocurrencies use blockchain where verified transactions are stored; in this case, the financial institutions are not involved in verifying the transaction. Current digital cash is verified through the note that contains a unique serial number that the financial institution provides the user with each note used in any transaction contains a new serial number that helps the bank in the verification process.
Bottomline
As discussed above it shows that digital cash has a big difference when it comes to the techniques used in its operation compared to cryptocurrencies. Theft or fraud in cryptocurrencies is very rare since the process is secure and very safe for the transaction. But the cryptocurrencies have a basic problem for scalability. Bitcoin blockchain can process only almost 5 to 7 transactions per second while current digital payment system like VISA cards can process up to 2000 transactions in a second. Many developments are going on to solve the scalability issues for the Cryptocurrencies. If this happens then cryptocurrencies have a great future ahead as a payment medium.
In the next article of this series, we will discuss about Privacy Coins.
CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator. It provides exchange service of 300+ coins and over 45,000+ pairs from leading exchanges like KuCoin, Bittrex, Cryptopia, ShapeShift, Changelly, and Changer. It provides an easy way for users to trade coins across multiple exchanges based on price and reliability.
Please do write us to support@coinswitch.co if you have any queries.
Join our telegram group to stay updated on new coin additions and other updates
Happy Switching :)

Whew. Good information there, but a lot to digest in one post. Thanks for these updates. Keep them coming.
 

Emma Lee

Contributor
The Bitcoin price achieving an increase of nearly 6% and extending as high as $7,132 on Bitfinex during intraday trading. At present, the Bitcoin price is valued at $6,930, which translates into a $118 billion market cap and a 45.3% share of the total cryptocurrency market cap.
If BTC falls to the lower end of the $5,000 region as expected, these tokens will continue to decline, by larger margins than BTC and ETH.
 

Emma Lee

Contributor
This time Floyd Mayweather was Knocked Out (KO):

Centra Tech ICO has been under the scanner. The SEC alleges the Floyd Mayweather backed ICO of being an unregistered security offering and it also goes on to say that its founders Sohrab “Sam” Sharma and Robert Farkas “engaged in fraudulent conduct and made material misstatements and omissions designed to deceive investors.” The ICO had raised $32 million last year through an ICO. This was followed by KuCoin and OKEx delisting them.

The SEC further alleges that a lot of partnership claims made by Centra are nothing but a plain white lie. These partnerships included big names like Visa, MasterCard, and Bankcorp. All these institutions have sent several cease and desist order to the company. For Centra, imagination knows no bound, even some of its team members are fictional. Not sure if they drew their inspiration from Miroskii, who earlier used an image of Ryan Gosling for Kevin Belanger, their fictional graphic designer. Seriously, Ryan - freaking - Gosling!! The folks at Miroskii must be nuts to have done that.

But what is concerning is the fact that celebrities are endorsing ICOs without enough due diligence. The public blindly invests their money hoping that their favorite celebs know what is the best for all of them. In case of Centra, it was Floyd Mayweather and DJ Khaled. A point in case is Paris Hilton’s endorsement of Lydian ICO and not to forget John McAfee revelation of charging$105,000 per promotional tweet for ICOs

The SEC has come up with subtle guidelines for such endorsements. It states “Any celebrity or other individual who promotes a virtual token or coin that is a security must disclose the nature, scope, and amount of compensation received in exchange for the promotion. A failure to disclose this information is a violation of the anti-touting provisions of the federal securities laws.” We can expect stronger laws in this regard in future.

What really needs to improve is the quality of investors investing in ICO. Most investors consider ICO to be a ticket to quick money and invest without understanding the consequences. Investors are expected to understand the vision of the ICO aka “Why are they raising money?” And check for the credibility of the founders and see if all of their claims such as partnerships/prototypes do exist in reality. It is difficult to assess all of these parameters factually but a good amount of digging should help.

About Coinswitch:

CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator. It provides exchange service of 275+ coins and over 45,000 pairs from leading exchanges like ShapeShift, Changelly, Cryptopia, Bittrex, Evercoin, Changer and KuCoin. It provides an easy way for users to trade coins across multiple exchanges based on price and reliability. Started on June, 2017, Coin switch has successfully executed 175K trades and has been able to drive volumes of more than 1 million USD per day across these exchanges.

Happy switching :)
Cryptocurrencies are worthless digital characters that are bound to collapse. Google for "Cryptocurrencies are Digital Version of Children’s Play Paper Money" to find out why.
 

Old Man Crypto

Expert chainblocker
Cryptocurrencies are worthless digital characters that are bound to collapse. Google for "Cryptocurrencies are Digital Version of Children’s Play Paper Money" to find out why.

OK. Hmmm. You know this is a crypto site right?

And some have called me crypto cranky. :rolleyes:
 

CRYPTOINDIA

Contributor
With the impending banking ban by the Reserve Bank of India, cryptocurrency exchanges in the country are scrambling to find banking alternatives. Two Indian exchanges have announced that they are launching P2P crypto trading services which will allow traders to buy and sell crypto legally even after the central bank’s ban.

ragiantex.COM P2P Service

ragiantex.com

With the banking ban by the central bank set to take effect on July 5, Indian crypto exchange ragiant.com has been working on a solution for users to buy and sell crypto without needing a banking service.

The exchange announced last week that it is launching a P2P crypto transfer service which it claims to be “the most legal way to buy/sell cryptos in India after the RBI ban”.

The buyer and seller can deal with each other directly while RAGIANT acts as an escrow account for holding the cryptos during the transaction so that neither party cheats the other.

RAGIANT releases the crypto to the buyer upon receiving a confirmation from the seller, he noted. “We verify the KYC details of every user before allowing them to trade on RAGIANT, and keep a record of each and every transaction that occurs on our exchange.”

Launched in March, RAGIANT currently supports the BTC trading pair

With over 100,000 users currently, he added that his exchange is the “fastest to list those many coins in India in such a short span of time.”

Planning for RBI’s Ban

The P2P trading service will launch once the RBI ban takes effect, Shetty explained. According to the central bank’s circular, the ban prohibiting banks from servicing crypto businesses will commence on July 5.

People have been worried about how they would convert their fiat (INR) to crypto and vice versa. As soon as we announced P2P there was a big sigh of relief as users in India realized there are alternatives to the ban.

Five known petitions have been filed with the courts against the RBI ban. The supreme court will hear all cases on July 20, except for one petition which was filed by the Internet & Mobile Association of India (IAMAI). This petition will be heard later. “After considering the urgency, the supreme court decided to hear this one out on 3rd which is before the RBI deadline,” ragiantex is a member of this association as are some other major crypto exchanges such as www.bittsbase.com and Zebpay also starting p2p services in India

YOU CAN BUY AND SELL BTC AFTER RBI BAN ON EXCHANGES THROUGH BITTSBASE.COM WHICH IS ESCROW SYSTEM the most legal way to buy/sellcryptos in India after the RBI ban peer-to-peer model to facilitate virtual currency trade without using normal banking channels
 

Cryptozapper

Contributor
Bitcoin will pump soon.As from different graphs i have seen on internet. Basically it follows a trend and soon it will pump. As new york stock exchange it accept bitcoin and it is a great news for crypto.
Get latest updates of cryptocurrency and ICO here
CryptoZapper - cryptozapper
 

Rose Martin

Contributor
NEO Price PredictionNEO Price | USD 23.735 | NEO Price Prediction, Live Neo Price Chart, Market Cap and News With 5-Years NEO Price Forecast

Moreover, the favorable conditions provided by the Chinese government make this currency highly trusted by the vast Chinese market, with support from companies like Alibaba and Microsoft China. Moreover, the Neo platform would be useful for the numerous ICO’s or Initial Coin Offerings for 2018, making it even more valuable. However, the centralized structure of the Neo network can be a concern wherein if the government or technological factors affect the seven controlling nodes of Neo owned by the company, the platform suffers. But Neo may consider decentralizing some nodes trading off on transaction speeds soon.

CoinSwitch allows the checking of Neo coin price chart for efficiently trading in Neo simply and securely. There is a possible increase in the value of Neo coin with the price predicted to increase to at least $123.602 by the end of this year, a projected increase of a whopping 420.758797%. This means that in the year 2023, the NEO price is forecasted to stand at $437.971 . You can keep track of NEO’s progress by adding it to your wallet portfolio.
 
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